Social Security Basics

Allen McLellan

Allen McLellan is a 1971 graduate of the U.S. Air Force Academy and holds a masters degree in aeronautical engineering (MSAE) from the Air Force Institute of Technology.

After more than 21 years as an Air Force officer, Allen entered the financial services profession as an insurance and investments field representative. As a Registered Representative and Investment Advisor Representative, Allen produced comprehensive financial plans for his clients with emphases on retirement and risk management. He advised his senior clients on a variety of issues such as income distribution, health, housing, Medicare, Medicaid, long-term care, and end-of–life challenges.

In 2009, Allen became an Assistant Professor of Insurance, and later an Adjunct Professor, at The American College in Bryn Mawr, PA. He specialized in teaching classes on insurance, annuities, retirement planning, and Social Security.

Allen's Other Events

OnDemand

This webinar is an introduction to the basic rules that govern Social Security and why you should know them as a banker. Most younger Americans do not understand the importance of the program; for example, Social Security provides more than 50 percent of family income for two-thirds of older Americans! In addition, an estimated 10,000 Americans (on average) reach retirement age every day and are intensely interested in Social Security. In this webinar, we give special attention to Social Security coverage requirements, retirement benefits and spousal benefits and how you can use that information to advise your customers. We also cover how taxes and additional work affect those benefits.

Covered Topics

Who is covered by Social Security?

Why is Social Security so important to American workers and retirees?

What benefits are available for covered individuals?

How are Social Security benefits calculated?

What is "early retirement" and how does it affect a retiree’s Social Security benefits?

What is “delayed retirement” and how does it affect a retiree’s benefits?

Are Social Security benefits ever taxable?

How are Social Security benefits affected when a beneficiary continues to work?

What are basic ideas to create a Social Security retirement strategy?

Who Should Attend?

Bankers who provide retirement planning services

Bankers who interact with the public, especially older clients concerned about their Social Security benefits and claiming rules

Bankers who need to learn about possible benefits for spouses, divorced spouses, widows, and divorced widows Note: millions of dollars go unclaimed every year - money that can lead to additional bank deposits!

Bank employees and managers who want to learn about their own potential benefits and claiming strategies

Bank Managers who want to provide Social Security counselling as either a “value added” for clients, or as a profit-center

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